The Indianapolis City-County Council will have more than one big tax-increment finance issue to consider at a meeting Monday night.
A new TIF district stretching from Fall Creek to White River along College Avenue will be introduced at the same meeting where the council is expected to vote on a controversial expansion of the downtown TIF to include Massachusetts Avenue and 16th Street. Mayor Greg Ballard has proposed expanding the boundaries of the downtown TIF to motivate redevelopment in key sections of the city.
Council Vice President Brian Mahern and members of a TIF study commission have questioned the wisdom of creating and expanding TIF districts because they capture increases in property tax revenue that otherwise would flow to city coffers. Mahern tried to block the downtown TIF expansion while the council considers a new set of TIF policies, but he was overriden by fellow Democrats.
Some Democrats are also backing creation of the "north midtown" TIF to pay for various neighborhood projects, which proponents hope will spark further redevelopment in the area.
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The proposed TIF area covers commercial and multifamily residential property along the College-Monon corridor, plus 38th Street in the Butler-Tarkington neighborhood and Central Avenue from around 34th Street to Fall Creek.
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